EVP - Head of Rural Business, North America
Are you a leader of people in the financial industry with a track record of success?
As a senior leader, are you well-versed in finance, credit, and risk management?
Are you motivated by the idea of helping to write the next chapter of a storied franchise, leading the brand and legacy into tomorrow?
The title says it all–Executive Vice President, Head of Rural Business, North America. You will be the driving force behind the brand; taking the time to get under the hood to figure out how it works, how long it takes, and how to improve it. You will work closely with executives and company leadership to forecast, administer, and execute the mission, policies, procedures, and fiduciary activities of the overall business.
The global health of the company is secure, buoyed by sustainability initiatives, strong markets, and staffed with good people who care about their company, jobs, and communities–people who competently keep things growing while you evolve the vision and determine ways to add new growth.
You will be the outward spokesperson for the organization with the charge to strategically implement and execute business growth.
We are seeking an experienced, senior-level finance leader with 15+ years experience to be responsible for communicating and implementing the business strategy for North America. You’ll manage a senior leadership team, establish a budget, collaborate with team leaders, and supervise compliance, regulations, internal policies and procedures, particularly BSA/AML.
If you are a successful, established leader in banking and finance who can build and handle a capable team, manage credit risk, and grow an already impressive lending platform, this opportunity could be for you!
THE OPPORTUNITY:
If you have a long-standing background in leadership, focused especially on building successful teams and managing risk, this position will provide you with an important forward-facing business development and advisory function for a company that has been committed to farmers for over a century.
It goes without saying that Agricultural Lending is where the rubber meets the road regarding the farming economy. Ag lenders have a collective finger on the pulse of the sector, providing valuable financial insights and industry sentiments. According to the most recent Ag Lending Survey, farm income and profitability hit record numbers in 2022 with farm incomes exceeding $200 billion on the heels of high global demand for US commodities.
Lenders have reported positive news in agricultural lending, with a significant majority (over 95%) indicating that both delinquencies and charge-off rates for real estate and production loans have decreased over the past year. Farmland values have been on a tear since 2020, with lenders reporting significant gains. The average increase was 8.3% in 2021, followed by a jump to 18.9% in 2022. While 2023 saw an increase of 11.2%, this figure is slightly higher than the USDA's reported average of 7.4%. This difference might be due to the survey's focus on Corn Belt and Plains lenders, where farmland values tend to be higher. A strong majority (82.4%) of lenders reported farmland values climbing in their local markets during the past 12 months.
As far as 2024, most ag lenders surveyed expect land values to stabilize due to rising interest rates, which charted as a leading concern going into the year. It’s no secret: loan products that can lock in a long-term rate are always going to be desired by producers. Our client provides competitive products and services focused on fixed-rate funding for farmers' number-one asset, their land. They’ve been doing it for a long time and are regarded as one of the best.
Understanding production ag and how the agricultural financial market operates is preferred for this role. If you have some exposure to agriculture and understand key metrics, this could still be the right fit even if ag or food hasn’t been your sole focus. Some agricultural understanding coupled with the right credit mind while being an effective leader of people, is critical.
THE ROLE:
The selected candidate ensures that the business is profitable and relevant, and that it adds value to the franchises in both the region and globally. This involves setting the overall strategic direction and business plan and delivering on the four underlying value drivers (income, costs, impairments and capital), across Direct Lending in both the US and Canada, as well as input finance and relevant adjacent activities.
RESPONSIBILITIES:
Helps create, communicate and implement the business strategy for North America ensure the efficient delivery against its objectives and the four value drivers
Coordinates with management and direct reports to establish a budget, tactics against goals, performance assessment against goals and budget
Establishes the direction for the North American Leadership Team
Sets the tone with such team during the hiring, recruitment, and negotiation of new employees
Establishes competitive employment practices consistently across all business units, including cash and perquisite compensation; goals and sound performance feedback capabilities; career development opportunities; training, that will result in high employee satisfaction levels and ultimately, the motivation of staff
Works with Heads Of US & Canada to ensure profitable growth, risk management and capital efficiency of the business
Manages the Leadership Team to ensure proper execution of five year strategy and Medium Term Plan
Establishes a Risk Culture consistent with the expectations of the client and its regulators including collaboration with Risk to set the risk appetite for the business that reflects business strategy and the current economic environment as well as the bank’s global risk appetite
Ensures that the appropriate policies and procedures are in place to ensure a controlled environment, including the use of internal and external audits to identify possible exposures, instituting routine operational risk assessments
Must be familiar with and comply with laws, regulations and internal policies and procedures that are applicable to required job duties, in particular BSA/AML
Works effectively with regional and global counterparts
REQUIRED QUALIFICATIONS:
Minimum of 15 years of proven experience
Experience in agricultural lending (in US and/or Canada)
Managing or managed a senior leadership team
Streamlining processes and increasing profitability of an established enterprise
Successful record of developing and implementing profitable business opportunities
Leading cultural change and responding to defined business strategy
Creating an environment around capital efficiency and portfolio optimization
Credit and Risk Management experience
Bachelor’s Degree or equivalent required; Master’s Degree preferred
Ability to travel regionally and on occasion, globally. Travel is 50%+
COMPENSATION & BENEFITS:
Market competitive compensation and benefits.
If you are interested in learning more, please click the link below for a detailed pdf:
EVP, Head of Rural, North America Opportunity Highlights